Sit Investment Associates Inc. lowered its position in shares of Merck & Company, Inc. (NYSE:MRK) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,197 shares of the company’s stock after selling 22,256 shares during the period. Sit Investment Associates Inc.’s holdings in Merck & were worth $24,815,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. L & S Advisors Inc bought a new stake in shares of Merck & during the fourth quarter valued at approximately $2,716,000. Fortis Advisors LLC bought a new stake in shares of Merck & during the fourth quarter valued at approximately $318,000. Congress Asset Management Co. MA bought a new stake in shares of Merck & during the fourth quarter valued at approximately $49,303,000. HCR Wealth Advisors bought a new stake in shares of Merck & during the fourth quarter valued at approximately $541,000. Finally, AQR Capital Management LLC raised its stake in shares of Merck & by 28.6% in the fourth quarter. AQR Capital Management LLC now owns 6,584,741 shares of the company’s stock valued at $387,643,000 after buying an additional 1,463,634 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.
Merck & Company, Inc. (NYSE MRK) opened at 61.49 on Friday. Merck & Company, Inc. has a 12 month low of $58.29 and a 12 month high of $66.80. The stock has a market capitalization of $167.71 billion, a P/E ratio of 33.29 and a beta of 0.80. The firm’s 50-day moving average is $62.91 and its 200-day moving average is $63.83.
Merck & (NYSE:MRK) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.75 billion. Merck & had a return on equity of 26.02% and a net margin of 17.14%. Merck &’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. On average, equities analysts expect that Merck & Company, Inc. will post $3.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 14th. Merck &’s dividend payout ratio is currently 76.11%.
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MRK has been the topic of several research reports. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $51.00 price objective (down previously from $52.00) on shares of Merck & in a research report on Saturday, April 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 target price on shares of Merck & in a research note on Sunday, April 23rd. Zacks Investment Research upgraded shares of Merck & from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, May 10th. Cowen and Company reiterated a “market perform” rating and issued a $70.00 target price (up previously from $68.00) on shares of Merck & in a research note on Thursday, May 11th. Finally, J P Morgan Chase & Co lifted their target price on shares of Merck & from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.58.
Merck & Company Profile
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services and Alliances. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
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